Toronto, Ontario — September 23, 2015 — According to a new insurance survey, drivers living in certain areas of Toronto pay far more in insurance than those in other neighbourhoods, with the differences adding up to almost $1,000 in some cases.
The survey was carried out by online insurer, Kanetix.ca. The firm found that those living in North York pay 48 per cent more for car insurance than drivers living closer to downtown, in, say the Christie Pits neighbourhood. Kanetix ran quotes for postal codes in 102 different neighborhoods in Toronto to find the ten most expensive neighborhoods and the ten cheapest. The results show just how much rates can vary within one municipality. According to the survey the most expensive neighborhood for insurance was North York, where the average rate was $2,422. The cheapest neighborhood to insure a car was in the central Toronto neighborhood of Davisville North, which had an average rate of $1,503.
“Where you live can have a direct impact on your auto insurance rates, but it’s not the only factor at play,” says Janine White, VP of Marketplaces at Kanetix. “Your personal driving record has the largest influence on your premiums. It’s up to each driver to stay focused, avoid distractions, and obey the rules of the road. Tickets, collisions and claims can increase your insurance rates dramatically.”
According to the press release announcing the results other variables that determine auto insurance rates include how prone the area your live in is to car theft, your insurance provider’s claims history, the type of vehicle you drive, the time of day you drive your car, and where you drive it to.
The rates were based on the cheapest available option for a married 35-year-old driver with a clean driving record who drives a Honda Civic. For reference, the average annual auto insurance rate for a Toronto driver of this profile is $1,798.
